ShapeShift CEO Points Out How Bitcoin’s Growth is Dependent on the Existence of Bubbles, Speculations
CEO of cryptocurrency exchange, ShapeShift, Erik Voorhees trusts that Bitcoin’s [BTC] growth relies heavily on bubbles reports Coin Telegraph. On Wednesday, May 15, Voorhees expressed his sentiments in an interview with Bloomberg TV and has since made several cases by expounding on bubbles that have burst in the past and how volatility is essential. In particular, he made it clear that there’s no way for BTC to experience steady growth and here’s his reason(s) as to why this is so: “There have to be bubbles in crypto because crypto is taking over the world, and it’s not just going to advance 5% per month without end. If it did that, people would start buying it up and frontrunning it and turning it into a bubble.” Said comment comes amidst Bitcoin’s current price hike, as several leaders within the space have deemed that the bear market has come to an end, with the bull currently in place. As for this phenomenon, Voorhees trusts that factors such as volatility and speculation for
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